Membership Guide
Everything you need to know about becoming a member and benefiting from our housing schemes.
Project Stages
Our housing projects follow a structured process to ensure quality and transparency.
In line with complimenting Government's vision and effort in its bid to provide decent and affordable accommodation to the people, Affordable Crestaco Properties will give first priority to Civil Service (60% stands allocation), Corporate (20%) and individuals (20%), who are unable to buy residential stands on parallel market or construct their decent Homesteads.
After membership registration, the Trust then submits project proposal together with the membership list to Local Government, through Local Authorities to initiate the land allocation process. After full assessment and considerations, Local Authorities then allocate land to the Trust according to laws and by-laws of the country.
This is the most complicated part of the project. Land development starts from land clearance, surveying, road marking, sewer and water reticulation systems up to the stands pegging. Land development takes a minimum period of 9-12 months. Local Authorities will be involved in all development stages.
Once roads, sewer and water reticulation systems are in place, we invite Local Authorities to come and inspect the project. If satisfied and having Compliance Certificate in place, the Trust can now allocate stands to its membership.
Membership Information
Important information about membership, certificates, waiting periods, and payment terms.
Membership Certificate
Membership certificate is obtained after 3 contributions. It is issued without erasure or alterations. Your Housing Scheme and reference number will be clearly indicated.
Waiting Period
All schemes' waiting period for an individual to benefit is strictly 48 months. However, members can benefit earlier due to availability of completed projects.
Maximum Paying Period
Maximum paying period for all schemes is 15 years. However, a member can pay off the stand after allocation and rights to title are issued once full payment is done.
Death Before Allocation
In the event of death before allocation, beneficiaries are asked to take over the Scheme. If none can afford, the Trust has no obligation but to refund contributions less 15% administration fee. No refunds to be made on suicidal death.
Death After Allocation
In the event of death after allocation, beneficiaries remain in possession of the property without any further contributions and rights to title are issued immediately. Insurance has it covered after 48 months.
Cancelation
Any cancelation made will attract a penalty of 25% to cover administration costs and refund will be payable after 60 working days from date of cancelation in writing. No refunds in cancelations made in 12 months.
Lapse
Contributions not honored for 3 consecutive months shall attract termination of the contract without notice. No refunds on lapsed contracts. Should a member encounter financial problem, they should notify the Trust.
The Trust's Support
Zimbabwe Home Developers Trust receives support from various sources to fulfill its mission.
Projects and land acquisition department negotiates with the government for free or less expensive land through Local Authorities.
Merchant Bank of Central Africa (MBCA) is the Trust's financial advisor. Furthermore, the bank is responsible for sourcing project loans and donor funding. Commercial Bank of Zimbabwe is the Trust's banker, responsible for administration of membership funds and projects loans.
Affordable Crestaco Properties is not a Housing Co-operative or an Estate Agent. It does not use membership contributions to purchase or develop land. Membership contributions are used to repay bank loans on a monthly basis.
Non-Executive Directors through MBCA, are responsible for sourcing donor funding, Local, Regional and International, with the Government's blessing.
Once a member has been allocated a stand and does not have enough money to construct the house, a member is eligible to apply for a Housing Loan Scheme payable over 5 years. Individuals with their own stands need to be members first to qualify for the Credit Facility Support.